Russia’s Federal Air Transport Agency (Rosaviatsia) suspended the operator certificate of Aeroflot-Cargo on 1 December 2009. The Arbitration Court of the Moscow Region approved the decision to liquidate the company in late October 2009. The cargo business of Aeroflot-Cargo will be transferred to the cargo department of its parent company Aeroflot – Russian Airlines. Meanwhile, Aeroflot has approved the decision to dispose off the former cargo unit’s MD-11 … [Read more...] about EUROPE & CIS: Operator certificate of Aeroflot-Cargo suspended

Finnair PLC said it will outsource some services, including cargo and transfer 620 personnel as the struggling airline strives to cut costs amid the recession which has hit the air industry hard. The Finnish national carrier said it will transfer operations of its ground handling subsidiary Northport and 490 employees to Barona Group, and 130 warehouse employees in Finnair Cargo Terminal Operations to Suomen Transval Oy. “We are seeking more efficiency for our business,” … [Read more...] about EUROPE & CIS: Finnair outsourcing cargo and staff

AirBridgeCargo Airlines (ABC), the scheduled cargo subsidiary of Volga- Dnepr Group and Russia’s largest international cargo carrier, has added one more Boeing 747-400ER Freighter to its current fleet. The new aircraft takes to four the total number of extended range Boeing 747-400s in the ABC fleet. It also operates one Boeing 747-300 and two B747-200 cargo aircraft. The additional aircraft will enable ABC to follow its strategy of fleet and network expansion with further … [Read more...] about EUROPE & CIS:AirBridgeCargo adds another B747-400ERF

Cargolux’s shareholders have agreed to inject US$200 million in the company, with the first $100 million to take place before the end of this year. The Luxembourg-based airline said the recapitalisation became necessary due to losses incurred this year, which are expected to be more than $100 million. The move is part of a two-stage restructuring, with shareholder SAirlines selling its 33.7 per cent stake in the company to current shareholders Luxair, BCEE and SNCI, and the … [Read more...] about EUROPE & CIS: Cargolux receives US$100M capital injection

Turkish Airlines plans to launch more direct flights between China and Turkey, including cargo flights as it aims to tap the booming trade flow between the two countries, according to its chief executive officer, Temel Kotil, the Shanghai Daily reported. The airline, which boosted capacity by 21 per cent last year, is expected to pick Guangzhou, capital of Guangdong Province, as its destination but it is still waiting for an agreement which will facilitate the two countries to grant airlines … [Read more...] about EUROPE & CIS: Turkish Airlines eyeing more China cargo flights

Cargo yields collapse in “sometimes desperate” competition. Air France-KLM said its cargo unit booked a US$219 million second quarter loss against a year earlier profit of nearly US$15 million and won’t break even for at least another eighteen months. The worsening cargo performance contributed to Europe’s biggest airline swinging to a US$70 million operating loss in the three months to September 30 from a $583 million profit in the same period in 2008. … [Read more...] about EUROPE & CIS: AF-KLM posts US$219 million cargo loss